NAHB’s analysis of census data from the Quarterly Starts and Completions by Purpose and Design Survey indicates custom home building expanded during the fourth quarter of 2019, supported by low mortgage interest rates.
There were 44,000 total custom building starts during the fourth quarter of 2019. This marks a 16% gain over the final quarter of 2018 total of 38,000. Over the last four quarters, custom housing starts totaled 177,000. Due to weakness during the first half of the year, this represents only a 3% increase over the 2018 total (172,000) but a solid gain nonetheless.
As measured on a one-year moving average, the market share of custom home building in terms of total single-family starts is now 20%, down from a cycle high of 31.5% set during the second quarter of 2009.
Read more at NAHB’s Eye on Housing blog.